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Liberty Health Sciences Inc. (LHSIF)

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ABOUT LIBERTY HEALTH SCIENCES

 

Liberty Health Sciences was launched to acquire and operate U.S. – based
companies in the medical cannabis market. Liberty is committed to delivering
high-quality, clean and safe pharmaceutical grade cannabis to patients while
optimizing returns to our shareholders.
 

Liberty Health Sciences Experiences a Significant Increase in Year-Over-Year Revenue and Provides Update on its Liberty 360 and Ohio Operations

Canada NewsWire

TORONTO, Dec. 7, 2018

Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) www.libertyhealthsciences.com ("Liberty" or the "Company"), a provider of high quality cannabis, announced today that they experienced a significant increase in sales revenue in the quarter ended November 30, 2018 compared to the same period in the prior year. For the quarter ended November 30, 2018, revenue increased by 45% compared to the quarter ended August 31, 2018.

Liberty's recent quarterly revenue totalled $3.2 million and its fiscal year-to-date revenue totaled $6.5 million. This continued growth in revenue reflects the Company's improvement on returning patient count and the expanding dispensary base, as well as the strength of its partnerships with best-in-class brands such as PAX and Mary's Medicinals.

Liberty's patient count increased by 46% during the quarter ended November 30, 2018 to approximately 14,500 patients. Supporting this growth is Liberty's accelerated pace in opening dispensaries, adding three additional dispensaries over the last quarter for a total of seven dispensaries and six delivery hubs opened to date. Liberty expects to open another seven dispensaries by the end of February 2019 to a total of 14 dispensaries across Florida, including locations in Miami, Boca Raton and Gainesville, subject to the receipt of all necessary approvals from the Florida Department of Health. Under the state regulations, the Company is entitled to open up to 30 dispensaries. Accordingly, Liberty will continue to seek suitable locations in response to the state's growing patient count.

"We are happy with the progress we are making as we continue to move forward on both dispensary openings and operational capacity," said George Scorsis, CEO of Liberty Health Sciences. "Liberty remains committed to growth and operational excellence across Florida and to potential expansion opportunities in other states."

In support of the ongoing opening of its dispensary locations, Liberty expects to finish construction in phases on the planned 225,000 square feet Liberty 360 facility including the state-of-the-art processing and production space in 2019. Liberty is currently operating 20,000 square feet of cultivation space at the Liberty 360 property as well as 24,000 square feet at the original Alachua property to support the growing demand for product. The next phase, expected to be completed in early 2019, will add 80,000 square feet of cultivation space. Liberty is fully funded to complete these capital expenditures.

"Our cultivation team is doing an excellent job and we continue to get amazing yields from our operations," said Lewis Swarts, VP Operations of Liberty Health Sciences. "The automation we have introduced into our processing operations is paying dividends as we are able to keep up with the increase in demand from our growing patient base."

In addition to the expanded cultivation and processing space, the facility will also include a state-of-the-art research and development lab. With the completion of the processing plant, Liberty's extraction capacity will increase by nine times its current level.

The completion of Liberty 360 will allow Liberty to significantly increase its production capacity, expand its product line and provide scientific and technical support for Liberty's operations in other states. Liberty currently employs just under 200 people across its operations and dispensaries. With the anticipated completion of Liberty 360, the Company expects to employ a diverse workforce of up to 500 people including patient liaisons, scientists, engineers and cultivation specialists.

In Ohio, Liberty, together with their joint venture partners, the Schottenstein Group, expects to open their dispensary in Dayton, Ohio at the end of March 2019. Its processing facility will open subsequent to that in the spring of 2019, each depending on the receipt of the required regulatory approvals. The joint venture has secured a 10,000 square foot processing facility, which will be used for extraction, refining, formulation and packaging.

"Liberty is committed to bringing the same high-quality offerings to Ohio as we have in Florida," said Scorsis. "With the knowledge base gained over our last year of operation, we believe we have the team and tools to continue to succeed."


Company website https://www.libertyhealthsciences.com

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LHSIF News: Consumer Acceptance of CBD Infused Products Bringing Major Retailers Into Market 02/27/2019 11:26:43 AM
PostSubject
#1793  Sticky Note 3-takeaways-from-aphria-inc-tseapha-divestiture-of-liberty-health-sciences UnderOath-KY 02/20/19 10:01:29 AM
#2898   Thanks for the info. marathon man 05/18/19 03:07:11 PM
#2897   Milligrams...2,849,935 mgs Total Med MJ sold by Liberty dwp 05/18/19 11:19:59 AM
#2896   What are mgs? marathon man 05/18/19 11:11:07 AM
#2895   Last Week-Trulieve DOWN 1,089,642 mgs...Liberty UP 543,825 mgs...Good dwp 05/18/19 11:00:29 AM
#2894   Yep. They are grabbing market share every FastMny 05/18/19 10:30:39 AM
#2893   #14 Cape Coral is Open...High THC Flower Sales dwp 05/18/19 09:30:40 AM
#2892   All flower sold out in one day, just Las3r 05/17/19 04:31:15 PM
#2891   Puur puur Liberty done sunk UnderOath-KY 05/17/19 02:31:40 PM
#2890   Liberty Health has the largest grow houses in inforthemoney2 05/17/19 08:06:00 AM
#2889   According to this: inforthemoney2 05/17/19 08:01:20 AM
#2888   Price is Rocky! WithEyesOpen 05/16/19 01:17:54 PM
#2887   They sell out quickly! We are rocking! FastMny 05/16/19 11:15:38 AM
#2886   Looks like Liberty has a supply problem...uhh ohh. SmokeABull 05/16/19 10:41:18 AM
#2885   They have Flower(Star Killer) again in Florida, just Las3r 05/15/19 08:53:53 PM
#2884   Thank you :-) tikotiko 05/15/19 12:49:48 PM
#2883   6/28, I believe. WithEyesOpen 05/15/19 11:56:26 AM
#2882   Does anyone know when the next quarterly report tikotiko 05/15/19 10:23:25 AM
#2881   Thanks for sharing. Mrone 05/14/19 06:32:54 PM
#2880   $LHS Hiring for Tallahassee and Panama City, Florida. jobs.livecareer.com/l/cec Las3r 05/14/19 05:00:43 PM
#2879   (Green Peak Innovations???) WithEyesOpen 05/13/19 11:17:57 PM
#2878   https://www.10tv.com/article/more-30000-people-register-buy-medical-marijuana-oh Las3r 05/13/19 09:28:31 PM
#2877   Not too bad at all on the shares Mrone 05/13/19 04:05:26 PM
#2876   How’s that negative balance doing?? lol SmokeABull 05/13/19 01:23:04 PM
#2875   Yes you definitely made the right move, you SmokeABull 05/11/19 04:48:03 AM
#2874   Yes good financials will be most welcome. Mrone 05/10/19 07:33:11 PM
#2873   I actually bought more yesterday and today. Your Mrone 05/10/19 07:31:50 PM
#2872   Sell! SmokeABull 05/10/19 06:57:52 PM
#2871   I hope they come out with a nice Etailer 05/10/19 06:09:32 PM
#2870   Nice run up today, next week should be interesting. Mrone 05/10/19 04:22:48 PM
#2869   No idea where you’re going with that. You SmokeABull 05/09/19 02:55:34 PM
#2868   OMG, scam TRTC has a higher share price! UnderOath-KY 05/09/19 02:35:06 PM
#2867   Nice read https://www.prweb.com/releases/san_francisco_creative_agency_theorysf Las3r 05/09/19 09:39:26 AM
#2866   I never short good companies like Liberty. FastMny 05/08/19 08:17:31 PM
#2865   Soon you and Smoke will be buying at marathon man 05/08/19 08:08:50 PM
#2864   Liberty closed UP 1.32% on the CSE... dwp 05/08/19 06:48:38 PM
#2863   are you buying at .47 Smoke ? $LHSIF$ Big RDC 05/08/19 01:54:47 PM
#2862   What say you? WithEyesOpen 05/07/19 06:35:44 PM
#2861   Another dispensary is opening. They are on FastMny 05/07/19 05:46:41 PM
#2860   The tragic comedy continues for Liberty, I see SmokeABull 05/07/19 04:38:22 PM
#2859   It’s pretty clear to me that we remain WithEyesOpen 05/07/19 04:23:22 PM
#2858   I think that would give us around 8 Etailer 05/07/19 08:23:55 AM
#2857   Two medical marijuana operators want the state to Etailer 05/07/19 08:22:22 AM
#2856   LHS to Open 14th FLA Dispensary + Buy/Sell RTupp23 05/06/19 10:20:05 PM
#2855   This is great. I love it. FastMny 05/06/19 09:40:05 PM
#2853   Lots of shorting going on for Liberty. Etailer 05/06/19 09:09:39 PM
#2852   Don’t discount the potential that LHSIF is primarily WithEyesOpen 05/06/19 03:46:47 PM
#2851   Bottom won’t be until after next earnings report LQMTinvestor2018 05/06/19 12:36:43 PM
#2850   Looks like we found the bottom. https://finance.yahoo.com/news/liberty-health-sc livelongandprofit 05/06/19 12:20:57 PM
#2849   Another dispensary. Love it. Keep gobbling up FastMny 05/06/19 09:59:32 AM
#2848   Boca Raton dispensary is also coming soon Las3r 05/06/19 09:47:21 AM
PostSubject